Business Reporting: Reporting on Form 1099-MISC is designed for businesses or individuals engaged in business, such as with a sole proprietorship. Individuals who are not engaging in an activity to make a profit are not required to file Form 1099-MISC for payments to independent contractors.
Required Thresholds for Filing: For royalty payments, the threshold is $10. For rents, prizes and awards, medical and health care payments, payments to an attorney, or other income payments, the threshold is $600 or higher. This means that if you paid an independent contractor less than $600 during a calendar year, you are not required to furnish them with a Form 1099-MISC, although it is still taxable income to the contractor.
Exceptions to Filing:  In most cases, payments made to a corporation, including a limited liability company that is treated as an S-Corporation or a C-Corporation for tax purposes, are not required to be reported. There are exceptions to this rule. While businesses are not required to file a Form 1099-MISC in these circumstances, it is normally a good idea to file if there is any confusion as to whether an entity is required to receive the form. Other notable exceptions are payments made for merchandise, telephone, freight, storage, or other similar items, as well as payments of rent made to real estate agents. Real estate agents are required to report rent paid to property owners in their course of business.
Payments that are Reportable to a Corporation: Medical and health care payments and attorney fees that are reported in either box 7 or box 14 of the Form 1099-MISC need to be reported, even if paid to a corporation.
Notable Boxes on Form 1099-MISC:

• Box 1: Rents – Used to report rent paid for office space (except if paid to a real estate agent) or rental of machinery and equipment
• Box 2: Royalties – Royalties are reported at gross and normally include payments for oil, gas, and mineral properties, as well as payments from intangible property, such as a copyright, patent, trademark, or trade name
• Box 3: Other Income – This is used when none of the other boxes of the form fit the situation; prizes and awards, such as winnings from a game show, are reported in this box
• Box 4: Federal Income Tax Withheld – This box is used when backup withholding is used on an independent contractor
• Box 6: Medical and Health Care Payments – When medical or other health care services are provided, this box is used to report the payments; payments made under this box are reported even when paid to a corporation
• Box 7: Nonemployee Compensation – When independent contractors are paid for services to a business, it is normally reported in this box; payments reported in box 7 are generally subject to self-employment tax. Professional services, such as those of accountants, attorneys, engineers, etc., are normally reported in this box
• Box 14: Gross Proceeds Paid to an Attorney – These are generally payments made to a claimant’s attorney; payments made for the attorney of the business would normally be reported in box 7

Electronic Filing Requirement: For companies that file 250 or more Forms 1099-MISC, the filing must be completed electronically.
Due Dates: Form 1099-MISC must be mailed to the recipient no later than January 31. They must be mailed to the Internal Revenue Service (IRS) no later than February 28. If the forms are filed electronically, the due date to the IRS is no later than March 31.